CNBC has the details:
Amazon is working on Project Kuiper, which would put 3,236 satellites into orbit to provide high-speed internet to any point on the globe.
“You can see the clear profit motive here for Amazon: 4 billion new customers,” Space Angels CEO Chad Anderson said.
CNBC spoke to more than a dozen space industry analysts and executives about Amazon’s proposal and the customers, competitors and costs involved.
In my opinion, this is the money quote:
Two industry officials said that this move “validates the market model” for these immense internet satellite networks, especially since “Amazon is a publicly traded company” with a broader shareholder base, unlike other space companies. Additionally, Amazon’s entrance “makes an already challenging market even more competitive,” one executive said.
Full Article is HERE.
There are still challenges ahead, as some dictator controlled countries do not want an open internet overhead, especially one selling ideas contrary to their socialist/communist doctrine. Interesting times ahead.